CAT Protocol Addresses Token Exploit and Maintains User Fund Security
The CAT Protocol team addressed an exploit that allowed unauthorized creation and sale of OPCAT tokens. Key points include:
- Exploiter generated and sold 1.2 million OPCAT tokens, affecting market price.
- Trading was paused and a hotfix implemented to prevent further exploitation.
- 1.2 million tokens were bought back and will be burned to maintain a total supply of 21 million OPCAT tokens.
- User balances remain unaffected; no action required from users.
Enhanced security measures are being implemented, with collaboration from SlowMist and law enforcement for ongoing investigation. The protocol encourages responsible reporting of vulnerabilities.
UniSat, a Bitcoin service provider, acknowledged the issue and partially reopened the CAT20 market, allowing sell orders but restricting new buy orders due to risks.